The Weekly Closeout: Kim Kardashian launches new skincare line and GameStop’s losses spike

The Weekly Closeout: Kim Kardashian launches new skincare line and GameStop's losses spike

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It’s been another week with far more retail news than there is time in the day. Below, we break down some things you may have missed during the week and what we’re still thinking about. 

From retailers showing support for LGBTQ Pride Month to Denny’s clothing merch, here’s our closeout for the week.

What you may have missed

Kim Kardashian launches Skkn by Kim skincare line 

The reality star’s new line follows the closure of KKW Beauty.

Kim Kardashian for Skkn by Kim photographed by Mario Sorrenti

 

Almost a year after Kim Kardashian announced she would be shutting down her KKW Beauty brand, the reality TV star is launching a skincare brand with beauty giant Coty. Dubbed Skkn by Kim, the line will go live on June 21 and will only be available via the brand’s website, skknbykim.com, according to a press release. Skkn by Kim consists of nine products, including a cleanser, toner, exfoliator, face cream and eye cream. The collection also offers two serums and two oils.

The brand’s DTC website will feature tutorials and special collections and will also be “the go-to destination for all new product launches,” according to the release. Coty and Kardashian are aiming for sustainability with the new brand — each product uses refillable packaging and refills are sent inside eco-friendly materials. An Instagram post on the KKW Beauty account now pushes shoppers to the new Skkn by Kim line.

“[E]ach product was thoughtfully formulated to care for all skin types, tones, and textures at every stage of maturity,” the company said. “Through active ingredients and technical formulas, Skkn by Kim offers clinically proven skincare solutions to support the skin’s natural abilities and revitalize the complexion.”

Kardashian also operates in the shapewear space with her brand, Skims, which launched in 2019 and was renamed after backlash to the original name, Kimono Solutionwear. That line is now sold at Nordstrom.

Ikea pops up at Showfields’ Miami location

Ikea this week launched an outdoor concept dubbed “SunRoom” in which the retailer brings its memorable showroom to Showfields’ Miami location. 

Courtesy of Showfields

 

Marking the first installation in Showfields’ outdoor space at its Miami store, Ikea is showcasing its newest range of outdoor furniture through dining, seating, sofa, lounge and entertainment areas, according to details emailed to Retail Dive.

The space opened to the public on Thursday and will run through June 14.

Walmart and Gap Home launch kids line 

About a year after announcing their partnership, Walmart and Gap are introducing a home line for kids. Launching exclusively on Walmart’s website, the collection will include over 200 items across bedding, bath, pillows, throws, rugs and window treatments.

The Walmart and Gap home collection features an array of colorful bedding and towels.

Courtesy of Walmart

 

The collection, which is priced between $20 and $79, is in part a way for Walmart to expand its assortment of home goods “at an incredible value,” the company said in an announcement.

The two retailers initially announced their partnership in May 2021 with a collection featuring bedding, home decor and bath products. The companies extended their ties in the fall with the launch of a furniture collection.

Lands’ End and Draper James release their last collection together

Lands’ End and Reese Witherspoon’s Draper James brand this week released the fourth and final collection from their collaboration, an inclusive-sized assortment of women’s, men’s and children’s apparel and swimwear in regular, petite, plus, big and tall, and extended children’s sizes. 

The items, sold via Lands’ End stores and its website and four Draper James locations and its website, are priced between $15.95 and $144.95, according to a Lands’ End press release. Some proceeds will benefit Girls Inc.

The release comes at a tough time for apparel retail. But Lands’ End reported Q1 results that met its profit expectations “despite the ongoing global supply chain challenges, changing consumer landscape and difficult macroeconomic conditions,” the retailer said in a press release.

Net revenue in the quarter fell 5.5% to $303.7 million, and the company swung into the red, with a net loss of $2.4 million from last year’s net income of $2.6 million.

Gross margin contracted by about 350 basis points to 42.5%, declining year over year by an incremental $13.6 million of transportation costs, due to global supply chain challenges.

GameStop’s sales, losses spike

GameStop’s first-quarter sales grew by about 8% in the first quarter, beating analyst estimates, while its operating loss more than tripled to $153.7 million and its earnings missed forecasts. The gaming retailer said that new and expanded brand relationships contributed to its growth in Q1.